If you name someone as an heir in your will, you may wonder if they will need to pay inheritance taxes. The short answer is “No.” However, there are types of taxes to watch out for. You may pay taxes if you give a significant monetary gift to an heir while still...
If you are planning for end-of-life, you’ve probably written a last will and testament. Your will includes instructions about who will receive your assets when you die. However, in many cases, family members may not respect your choice of heirs. In the case where...
It is not enjoyable to think about what would happen if a medical event made you unable to make decisions for yourself. However, facing unexpected trauma or illness at some point during your life is an eventuality. You may prepare by drawing up “Advance Directives”...
Writing a last will and testament may seem daunting. You want to make sure that your will has legal standing and that the courts recognize it as your last wishes. You also want to make sure that family or other loved ones recognize the validity of your wishes and...
Once you write a last will and testament, you may think you have finished planning. However, you must keep wills up-to-date, or they are worse than useless. A will that contains false or conflicting information can do more than confuse others. An incorrect will can...
Creating a last will and testament is not complicated or expensive. You can even write your own will. But does it make sense legally? It’s crucial to devise a will if you have any assets such as a home, bank accounts, or any children. Writing your will protects your...
